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The below market maker quote width requirements for options overlying NDX and PCLN on NASDAQ PHLX ("PHLX") will be effective through July 22, 2017. The Exchange may, in its discretion, amend the bid/ask differentials by providing notice to members.

The bid/ask differentials for "NDX" and "PCLN" option classes electronic quotes are as follows:

If the bid is under $20, the bid/ask spread may be up to $5 wide.

If the bid is from $20 to $39.90, the bid/ask spread may be up to $6 wide.

If the bid is from $40 to $79.90, the bid/ask spread may be up to $12 wide.

If the bid is from $80 to $199.90, the bid/ask spread may be up to $18 wide.

If the bid is from $200 or greater, the bid/ask spread may be up to $22 wide.

The bid/ask differentials for “NDX" and "PCLN" option classes electronic opening and open outcry quotes are as follows:

If the bid is under $2, the bid/ask spread may be up to $0.75 wide.

If the bid is from $2 to $4.90, the bid/ask spread may be up to $1 wide.

If the bid is from $5 to $9.90, the bid/ask spread may be up to $1.50 wide.

If the bid is from $10 to $19.90, the bid/ask spread may be up to $3 wide.

If the bid is from $20 to $39.90, the bid/ask spread may be up to $6 wide.

If the bid is from $40 to $79.90, the bid/ask spread may be up to $12 wide.

If the bid is from $80 to $199.90, the bid/ask spread may be up to $18 wide.

If the bid is from $200 or greater, the bid/ask spread may be up to $22 wide.

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